FTSE, CAC, DAX Seen Lower; Europe Debt Worries Return

European shares are expected to open lower Thursday as concerns turn to Spain after the country’s bond yields rose sharply Wednesday, prompting fears that the debt crisis plaguing the euro zone could return.

It is unclear how much of this morning's momentum-busting weakness in futures is the result of China's horrendous Service PMI, which as we reported last night dropped to the lowest print on record at the contraction borderline, but whatever low volume levitation was launched by the market after Europe's close yesterday may have fizzled out if only until Europe close (there is no POMO today).

(LONDON) — European stocks slumped at the open Monday as investors gave their initial verdict to a weekend plan to tax depositors in Cypriot banks as part of a bailout of the Mediterranean island nation. Though Cyprus only accounts for around 0.2 percent of the combined output of the 17 European Union countries that use the euro, the tax on depositors has stoked fears of bank runs in other troubled European economies. Since the European debt crisis began in late 2009, savers have been spared.

(LONDON) — European stocks slumped at the open Monday as investors gave their initial verdict to a weekend plan to tax depositors in Cypriot banks as part of a bailout of the Mediterranean island nation. Though Cyprus only accounts for around 0.2 percent of the combined output of the 17 European Union countries that use the euro, the tax on depositors has stoked fears of bank runs in other troubled European economies. Since the European debt crisis began in late 2009, savers have been spared.

(LONDON) — European stocks slumped at the open Monday as investors gave their initial verdict to a weekend plan to tax depositors in Cypriot banks as part of a bailout of the Mediterranean island nation. Though Cyprus only accounts for around 0.2 percent of the combined output of the 17 European Union countries that use the euro, the tax on depositors has stoked fears of bank runs in other troubled European economies. Since the European debt crisis began in late 2009, savers have been spared.

European markets traded lower ahead of the crucial interest-rate policy that is expected to be announced by the ECB. Nikkei declines ahead of US job data. BSE recovered amid stronger trade in IT stocks. Ford Motor’s October sales in China have increased by 55% y-o-y.